LPG price hiked by Rs 11.42 per cylinder
Posted Date : 06-Oct-2012 , 09:56:41 pm | Posted By CASANSAAR
The price of Cooking gas, LPG price has gone up by 11 rupees 42 paise per cylinder with the Government increasing the Dealers' commission. The Commission has been increased from 25 rupee 83 paise to 37 rupees 25 paise for a 14.2-kg LPG cylinder. According to a release by Petroleum and Natural Gas Mi...
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Finance |
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FM to meet regulators, exchanges, institutional investors today
Posted Date : 06-Oct-2012 , 10:07:05 am | Posted By CASANSAAR
Finance Minister P Chidambaram will be meeting key regulators and institutional investors, including FIIs and mutual funds, here on Saturday.Chidambaram is visiting the financial capital for the first time after taking over as Finance Minister on August 1.The meeting follows a series of big-ticket r...
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Finance |
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Tax returns, Performance report out of RTI ambit: SC
Posted Date : 05-Oct-2012 , 08:29:31 am | Posted By CASANSAAR
The Supreme Court has ruled that the details of a person's income tax returns and performance of an employee are "personal information" which cannot be divulged under the provisions of the Right to Information Act unless a larger public interest is involved.
The apex court added that under ...
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Income Tax |
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FM, Sebi likely to announce market-friendly steps on Saturday
Posted Date : 05-Oct-2012 , 08:27:33 am | Posted By CASANSAAR
Finance Minister P Chidambaram is likely to address the board of the Securities and Exchange Board of India (Sebi) on Saturday, when some stock-market-friendly measures could be announced.
“The Sebi board is likely to announce measures towards lowering transaction costs, relaxing coll...
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SEBI |
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RBI to allow 4 new banks, begin process this month
Posted Date : 05-Oct-2012 , 08:25:23 am | Posted By CASANSAAR
IN a much-awaited big ticket announcement that hopes to boost the financial sector, the Reserve Bank of India is set to allow the opening of new banks and invite applications for licences this month.
A top government source said the central bank will issue the final guidelines for setting u...
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Banking |
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Cabinet approves amendment of the Competition Act, 2002
Posted Date : 05-Oct-2012 , 08:23:55 am | Posted By CASANSAAR
The Union Cabinet has approved the proposal of the Ministry of Corporate Affairs to further amend the Competition Act, 2002, with a view to fine tune it and to meet the present day needs in the field of competition, in the light of the experiences gained in the actual working of the Competition Comm...
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Corporate Law |
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Cabinet approves Amendments to the Companies Bill, 2011
Posted Date : 05-Oct-2012 , 08:23:23 am | Posted By CASANSAAR
The Union Cabinet today approved the proposal to make official amendments to the Companies Bill, 2011. The Companies Bill, 2011, on its enactment, would allow the country to have a modern legislation for growth and regulation of corporate sector in India. The existing statute for regulation of ...
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Corporate Law |
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0 | Hits : 972
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Dead pay income tax in India, RTI query finds
Posted Date : 05-Oct-2012 , 08:22:30 am | Posted By CASANSAAR
Delhi resident Madan Kumari Jain is a conscientious citizen. She earns a steady income and pays her taxes religiously. In 2010-11, she paid Rs 2.01 lakh in tax. A year before that, she enriched the IT department by Rs 2.05 lakh. In fact she has made the exchequer richer by a million rupees...
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Income Tax |
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Govt approves 49% FDI in insurance & pension sectors, approves 12th Five Yr Plan draft document
Posted Date : 05-Oct-2012 , 08:17:23 am | Posted By CASANSAAR
The Union Cabinet today approved necessary amendments to the Insurance Laws Amendment Bill, Pension Fund Regulatory and Development Authority Bill and the Companies Bill. Briefing newsmen on the cabinet decisions in New Delhi this evening, Finance Minister, Mr. P.Chidambaram said the foreign equity ...
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General |
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0 | Hits : 768
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ISA Eligibility Test (ET) of ICAI
Posted Date : 04-Oct-2012 , 07:54:04 am | Posted By CASANSAAR
Notification for Eligibility Test (ET) for Post Qualification Course on Information Systems Audit (ISA)on Saturday the 10th November, 2012
Last Date for Online Form Submission 31st October, 2012 till 5:30 PM
1. The next Eligibility Test for ISA ...
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ICAI |
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Govt working on guarantee scheme for educational loans: RBI
Posted Date : 04-Oct-2012 , 07:51:17 am | Posted By CASANSAAR
In a bid to remove problems faced by students in obtaining education loans, government was working on a scheme under which it would extend guarantee for advances upto Rs 7.5 lakh, RBI Governor D Subba Rao said on Wednesday.
"There are grievances of students not getting loans or encountering...
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RBI |
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Rail parcel included under 3.708 per cent service tax ambit from Oct 1
Posted Date : 04-Oct-2012 , 07:46:31 am | Posted By CASANSAAR
Rail parcel except personal baggage,agriculture produce and few other commodities has also been included under the ambit of service tax of 3.708 per cent from October 1, Railways said today. "Service tax will be applicable for transportation of all leased and non-l...
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Service Tax |
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0 | Hits : 770
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Kotak Mahindra Bank to collect VAT in 4 States
Posted Date : 04-Oct-2012 , 07:43:46 am | Posted By CASANSAAR
Kotak Mahindra Bank has got the mandate to collect VAT (value-added tax) in four States, according to an executive.
Addressing presspersons here on Wednesday, Puneet Kapoor, Executive Vice-President, Consumer Banking, Kotak Mahindra Bank, said that in a recent development the Government has...
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VAT |
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Online view of your Income Tax Arrear Demand
Posted Date : 03-Oct-2012 , 11:10:56 pm | Posted By CASANSAAR
As a Taxpayer friendly initiative, a facility to view details of Arrear Demand of taxpayers as communicated by their Jurisdictional Assessing Officers (A.O.) to the Central Processing Centre (CPC) is now enabled on the e-filing website i.e.
https://incometaxindiaefiling.gov.i...
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Income Tax |
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MCA urges to expedite filing of Balance Sheet & Annual Return
Posted Date : 03-Oct-2012 , 11:05:53 pm | Posted By CASANSAAR
GOVERNMENT OF INDIAMINISTRY OF CORPORATE AFFAIRS
DEAR CORPORATES,
The Ministry issued General Circular No.30/2012 Dated 28.09.2012, In order to ensure smooth filing and to avoid last minute rush, the due date of filing of e-forms 23AC(Non-XBRL) and 23ACA (Non XBRL...
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Corporate Law |
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Government likely to consider FCRA bill
Posted Date : 03-Oct-2012 , 10:59:04 pm | Posted By CASANSAAR
The government is likely to take a decision tomorrow on a bill that seeks to provide more powers to commodity market regulator Forward Markets Commission (FMC) and introduction of products like options."The Cabinet is likely to take up the Forward Contract Regulation Act (Am...
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General |
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Let RBI appoint auditors of private banks, says ICAI
Posted Date : 03-Oct-2012 , 08:18:27 am | Posted By CASANSAAR
Accounting regulator has urged the government to let the Reserve Bank of India appoint auditors of private banks, citing the inherent conflict of interest when auditors are chosen by the bank management. The Institute of Chartered Accountants of India (ICAI) has in a letter to th...
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ICAI |
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Mandatory safety mechanism for IPOs is a bad idea; Sebi must junk it
Posted Date : 03-Oct-2012 , 08:16:36 am | Posted By CASANSAAR
The Securities and Exchange Board of India's (Sebi) proposal for a mandatory safety net mechanism forinitial public offerings (IPOs) is a classic example of the remedy being worse than the disease. Nothing could be more misguided. It is a fact that the IPO market has been in the doldrums for th...
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SEBI |
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0 | Hits : 761
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Punjab National Bank, Union Bank, Oriental Bank of Commerce revise deposit rates on FCNR accounts
Posted Date : 03-Oct-2012 , 08:12:11 am | Posted By CASANSAAR
Public sector lenders, Punjab National Bank(PNB), Union Bank of India (UBI) and Oriental Bank of Commerce (OBC) revised their deposit rates on FCNRaccounts (foreign currency non-deposit accounts) with maturity of one-five years from today.
As per the revised ra...
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Banking |
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Taxmen may reduce TDS-related paperwork for assessees
Posted Date : 03-Oct-2012 , 08:10:00 am | Posted By CASANSAAR
If your income is not taxable and you are getting interest income, then you may get some relief from the paperwork for non-deduction of tax at source.
According to a highly-placed government source, “CBDT is to examine the possibility of getting Form 15G/15H once in a life time from v...
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Income Tax |
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0 | Hits : 996
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Investors to get no-frills demat accounts from today
Posted Date : 02-Oct-2012 , 08:54:23 am | Posted By CASANSAAR
Small individual investors will be able to get no-frills demat accounts for trading in stocks, mutual funds and other securities from Monday without any annual maintenance charges for holdings up to Rs 50,000.Also, the charges would be capped at a maximum of Rs 100 a year if the value of their portf...
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Income Tax |
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Finance Minister P Chidambaram asks IT department to lower taxes on insurance policies
Posted Date : 02-Oct-2012 , 08:53:56 am | Posted By CASANSAAR
In what could turn out to be a 'game-changer' for the life insurance industry, Finance Minister P Chidambaram on Monday urged the income-tax department to lower tax rates on life insurance policies and the insurance regulator to speed up approval for products.Life insurers will now be able...
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Income Tax |
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0 | Hits : 700
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Centre
Posted Date : 02-Oct-2012 , 08:47:18 am | Posted By CASANSAAR
The Centre said that the guidelines for implementation of General Anti Avoidance Rules (GAAR) will be finalised by the Income Tax department by the end of this month. Talking to reporters in New Delhi today the Finance Minister P Chidambaram said GAAR rules will be first vetted by the Law Ministry. ...
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Income Tax |
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0 | Hits : 643
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CAG not 'munimji', it's a constitutional authority: SC
Posted Date : 01-Oct-2012 , 08:11:37 pm | Posted By CASANSAAR
Observing that the "CAG is not a munim (accountant)" the Supreme Court on Monday dismissed a plea challenging the Comptroller and Auditor General's power to conduct performance audit of controversial allocation of coal blocks by the UPA government. A bench of justices R M Lodha and A R dave said the...
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Income Tax |
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0 | Hits : 775
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Rs 3,561 cr integrated development plan approved for Ludhiana
Posted Date : 01-Oct-2012 , 08:33:52 am | Posted By CASANSAAR
The Punjab government on Sunday approved “Mission Ludhiana” — a Rs 3,651-crore integrated development plan for the industrial city and its adjoining areas.
In a meeting here on Saturday, Deputy Chief Minister Sukhbir Singh Badal also tied up the financial resources for the...
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General |
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0 | Hits : 827
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Levy of Service Tax on Railway Passengers Travelling in AC Classes/First Class from tomorrow i.e. 1st October 2012
Posted Date : 30-Sep-2012 , 08:17:40 pm | Posted By CASANSAAR
Levy of Service Tax on Railway Passengers Travelling in AC Classes/First Class from tomorrow i.e. 1st October 2012 No Service Tax to be Levied on Tickets Issued Prior to 1st October 2012 In Case of Cancellation of Tickets Issued on or after 1st October 2012, the Applicable Amount Inc...
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Service Tax |
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0 | Hits : 910
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e-Filing Helpline Numbers.
Posted Date : 29-Sep-2012 , 09:47:14 pm | Posted By CASANSAAR
For any query relating to e-filing of Income Tax Return, please call 18001801961 or 08026500025.
For any query regarding status of e-filed return and ITR-V please call 18004252229....
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Income Tax |
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0 | Hits : 949
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'eBay International
Posted Date : 29-Sep-2012 , 06:29:12 pm | Posted By CASANSAAR
eBay International AG, a Swiss tax resident, need not fork out any income-tax on the profits earned from its two India-specific Web sites.
This ruling of the Mumbai Income Tax Appellate Tribunal is a significant one in the context of e-commerce transactions, say tax experts.
The Tr...
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Income Tax |
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0 | Hits : 790
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Opening of special return receipt counters on 29th and 30th September, 2012.
Posted Date : 29-Sep-2012 , 06:16:01 pm | Posted By CASANSAAR
CBDT has decided that the Income-tax Offices all over India shall make special arrangements by opening receipt counters on 29th and 30th September, 2012 for the convenience of taxpayers.
Click here for CBDT Order...
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Income Tax |
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0 | Hits : 810
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Justice Altamas Kabir to be sworn in as Chief Justice of India today
Posted Date : 29-Sep-2012 , 11:14:02 am | Posted By CASANSAAR
Justice Altamas Kabir, the senior-most judge of the Supreme Court will be sworn in as the next Chief Justice of India today. Justice Kabir, 64, who will succeed Justice Sarosh Homi Kapadia, will serve a tenure of nine months till July next year.
The new appointee has delivered several...
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General |
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